'By investing in a basket of funds, FoFs can help minimise the impact of underperforming funds, thus reducing overall investment risk.'
A sharp rise can be attributed to the significant changes in India's share buyback tax regime, which will come into effect from October 1, 2024.
For Reliance Industries Ltd (RIL), the September 2024 quarter (Q2FY25) may turn out to be yet another weak one as refining margins drag, say analysts. Two brokerage firms - ICICI Securities and Nuvama - expect a 1-13 per cent dip in reported profits in Q2FY25 from a year ago. Kotak Institutional expects a modest 2.2 per cent rise. Revenue, at best based on available analyst estimates, could rise up to 4 per cent.
Sri Lankan President Anura Kumara Disanayaka assured Prime Minister Narendra Modi that his country's soil will not be used against India's interests, addressing concerns over China's growing influence in Colombo. The two leaders discussed a range of issues, including a defense cooperation agreement, energy ties, and debt restructuring. They also agreed to initiate a ferry service between Rameshwaram and Talaimannar, and to adopt a "humanitarian approach" to the fishermen issue.
'Subject to any worldwide economic collapse.'
Two case studies on how one can use the exemption method or the credit route
Luxembourg plans to sign a double taxation treaty with India to boost bilateral trade, whose volume is currently low.
Many senior citizens 'underestimate the impact of inflation, taxation, health-related expenses, and the heavy premium they will have to pay on health insurance.'
The revenue department is examining the service tax on industry and service providers, particularly in the telecom sector, to ensure that there is no incidence of double taxation, an official of the department said.
'The move to remove indexation benefits on LTCGs presently available for property, gold, and other unlisted assets may have a negative impact as it directly impacts real estate investors.'
India's thriving mutual fund (MF) industry is drawing interest from several firms, with multiple applications submitted to the Securities and Exchange Board of India (Sebi) for asset management company (AMC) licences.
The Central Board of Direct Taxes said on Monday the draft cicular relating to taxation on sale of stocks does not refer to FIIs and rejected suggestions that it was 'ambiguous'.
The best solution would be the one followed in 2018 -- allow cost indexation until March 31, 2024 -- but exit at any time. The second-best alternative would be to allow time until March 31, 2025 for investors to exit their investments under the old indexation regime, points out Harsh Roongta.
The Congress was fighting the elections in a pre-poll alliance with National Conference and had fielded 32 candidates, mostly in Jammu region, compared to 51 by the regional party.
If you lack an emergency fund or it is depleted, use part of your bonus to build or replenish it.
Union Finance Minister Arun Jaitley said the Narendra Modi government does not believe in a high taxation regime but is being pro-business and pro-poor at the same time.
The Rs 84,000 crore domestic fund of funds (FoFs) space, which was in the doldrums over the past 18 months, has now caught the attention of investors due to a change in the tax structure in Budget 2024. The broader category, which includes offerings across equity, debt and commodities, has seen a spike in the inflows over the past two months. FoFs typically deploy the pooled capital in one or multiple MF schemes rather than investing directly into equities, debt or commodities.
The government on Tuesday announced withdrawal of the 2 per cent equalisation levy or digital tax on overseas e-commerce supplies.
Most investors should have a 5% to 10% allocation to gold for diversification. They should stagger their investments to mitigate timing risk.
Maintain a proper record of documents that can act as proof of the cost of acquisition of the property, cost of improvements made to the property, expenses related to transfer of the property (like brokerage and registration charges). These will come in handy in case of a dispute with the taxman.
The paper said that the taxation proposal needs to be accompanied by explicit redistributive policies to support the poor, lower castes, and middle classes.
The government on Tuesday proposed a relief to taxpayers with respect to capital gain tax on real estate properties by giving them the option to choose between 20 per cent and 12.5 per cent tax rates.
'More investors now view the stock market as a valuable opportunity, though many still seek quick gains, leading to a rise in futures and options trading.'
In a recent townhall meeting, creditors of WazirX pressed founder Nischal Shetty and the restructuring legal team for solutions, seeking representation on the committee of creditors (CoC) and expeditious restructuring within four months, and asked for clarity on redistribution of potential gains from future crypto market upswings.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
If gratuity is not paid within 30 days of termination, the employer must pay interest as set by the central government.
'Expectations are high regarding the change in LTCG with respect to equity investments.'
The government on Tuesday sought to address a significant concern stemming from the 2024-25 Budget announcement by introducing flexibility in the computation of long-term capital gains (LTCG) tax on unlisted assets, including properties. For any assets, such as land or buildings, acquired before July 23, taxpayers can choose between the new and old regimes, opting for whichever results in a lower tax liability. Under the new LTCG regime, the tax rate is set at 12.5 per cent without the benefit of indexation.
'We have filed a complaint with the police authorities.'
Despite a temporary relief, foreign investors still see the sword of double-taxation hanging above their hard earned returns.
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
The change in debt fund taxation is seen as boosting the demand for hybrid funds. It is no surprise then that asset management companies (AMCs) have launched a raft of new products in the multi-asset category. However, they seem to be divided on the asset mix and approach. The multi-asset space, which provides fund houses ample scope to innovate, has seen five launches in as many months.
Finance minister Pranab Mukherjee on Saturday clarified doubts raised by overseas Indians over double taxation of global income of resident Indians while speaking at the Pravasi Bharatiya Diwas 2011.
Issuing the clarification after Minister for Overseas Indian Affairs Vyalar Ravi brought it to his notice, Mukherjee spelt out what makes for a resident Indian.
Rollout likely to be pushed to next financial year.
This could come as a huge relief as majority of the FIIs operating in India are registered in tax havens. The discussion paper also removed the ambiguity on income classification for tax computation.
Data from Amfi shows that NAV of every one in two BAFs declined 1.5% or less on Monday compared to a 3.13% decline in Nifty 500.
Tech and startup industry bodies have again pushed back against calls by telecom operators to bring over-the-top (OTT) services under a licensing regime similar to telcos, and open them up to taxation. Ahead of public consultations on the issue later this week, the Internet & Mobile Association of India (IAMAI), Nasscom and the US India Strategic Partnership Forum (USISPF), among others, have written to the government arguing against such efforts.
With 7 per cent economic growth, India is not creating enough jobs as reflected by the number of applicants for vacant posts in some states, Reserve Bank's former governor Raghuram Rajan said and suggested the government needs to focus on promoting labour-intensive industries to generate employment. Rajan further said some Indians, especially those at upper level, are comfortable and have high incomes, but consumption growth from the lower half of the country has still not recovered to pre-pandemic level.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
